Master in Accounts & high court Advocate
9615 Points
Posted on 21 June 2025
Unfortunately, there's no remedy available at this point. The demand has been raised due to a defect in the utility that incorrectly allowed the rebate under Section 87A on Short-Term Capital Gains (STCG) in the new tax regime.
This issue was fixed in a newer version of the utility. Given that you've already filed your ITR under the new regime, you can only file a revised return under the new regime, but the last date to file revised returns was January 15, 2025.
Now, your options might be limited to filing an ITR-U (Updated Return), which also defaults to the new tax regime.